An Edinburgh retail park has changed hands for £3.35 million.
Cedarwood Asset Management sold Craigentinny Retail Park on Seafield Road to Danobe Securities who will receive a net initial yield of 7.81%.
The park is let to Halfords, Archers Sleep Centre, Connection Flooring and Sue Ryder, with an average unexpired lease term of 10.2 years and producing a rent of £278,500 a year.
It was sold following competitive bids after the closing date.
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Jamie Thain, partner in the Galbraith investment team who concluded the sale, said: “The asset attracted a lot of attention due to its prominent location and conservative passing rents which reflect only £10-12 per square foot.
"It provides modern format retail space on the east side of Edinburgh and is a clear example of continued investor appetite for well-presented and sensibly priced retail investments.”
Galbraith and MWM Property Consultants Ltd jointly advised Cedarwood Asset Management while Alta Commercial Property Consultants advised Danobe Securities on the deal.
